How Economic Growth can be stimulated? This question has called the attention of every policy maker and economist to find the answer. What factors can affect the economic growth? The answer of this question is unclear so far. After the endogenous growth theory as given by Romer (1986, 1990), Lucas (1988) and Grossman and Helpman (1991) Knowledge is being considered as an important and endogenous determinant of Economic growth. The latest knowledge (Technology) is essential for developing countries to catch-up with developed economies. Economic liberalization refers to both trade liberalization and financial liberalization. Trade liberalization means reduction in trade restrictions like tariff, quota or other trade barriers which discourage the international trade. On the other hand, more capital inflow and outflow as a result of Foreign Direct Investment (FDI), portfolio investment or worker remittances show that the country is financially integrating with rest of the world. How the economic liberalization affect the Economy of any particular country. Whether this economic liberalization is good or bad for developing country has become a huge policy debate.

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This study investigates the impact of the energy crisis on manufactured exports of Pakistan for the time period of 1990 to 2019 by employing the Ordinary Least Square method. Manufactured export is the regressand while energy crisis, energy price, real exchange rate, foreign demand, and industrial output are the regressors. The econometric analysis shows a significant negative relationship between manufactured exports and energy crisis, energy price, and exchange rate whereas a significant positive relationship has been found among manufactured exports and industrial output as well as foreign demand. The findings of this study call for such policy recommendations that can effectively tackle the issue of poor manufactured export performance in the light of the energy crisis. The government should take immediate initiatives to generate more energy to increase domestic production and to serve export purposes. Efficient energy policies should be formed, and innovative measures should be introduced for energy conservation.